Principal Financial Group Inc. Has $13.62 Million Stock Position in Knife River Co. (NYSE:KNF)

Principal Financial Group Inc. lessened its holdings in Knife River Co. (NYSE:KNF) by 20.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,329 shares of the company’s stock after selling 39,646 shares during the period. Principal Financial Group Inc. owned 0.27% of Knife River worth $13,617,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. abrdn plc bought a new position in Knife River during the third quarter valued at about $22,934,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Knife River by 12.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after acquiring an additional 224,373 shares during the last quarter. Swedbank AB bought a new position in shares of Knife River in the 1st quarter valued at approximately $9,730,000. Interval Partners LP acquired a new stake in Knife River in the 2nd quarter worth approximately $7,614,000. Finally, Federated Hermes Inc. boosted its position in Knife River by 37.5% during the second quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock worth $26,949,000 after purchasing an additional 104,720 shares during the period. 80.11% of the stock is currently owned by institutional investors.

Knife River Trading Down 0.4 %

Shares of KNF stock opened at $94.25 on Friday. The firm has a market capitalization of $5.34 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74. Knife River Co. has a 1 year low of $56.36 and a 1 year high of $103.33. The firm’s fifty day simple moving average is $91.06 and its 200 day simple moving average is $79.97. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Knife River Co. will post 3.57 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Loop Capital dropped their price target on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. DA Davidson lifted their target price on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Oppenheimer boosted their target price on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.67.

Knife River Company Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.